{"id":549731,"date":"2022-09-28T04:08:06","date_gmt":"2022-09-28T04:08:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/28\/import-issues-could-be-resolved-within-two-months-el-sisi-signals\/"},"modified":"2022-09-28T04:08:06","modified_gmt":"2022-09-28T04:08:06","slug":"import-issues-could-be-resolved-within-two-months-el-sisi-signals","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/28\/import-issues-could-be-resolved-within-two-months-el-sisi-signals\/","title":{"rendered":"Import issues could be resolved within two months, El Sisi signals"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>El Sisi wants import woes fixed within two months: <\/strong>Import challenges facing manufacturers will be solved within two months, President Abdel Fattah El Sisi said yesterday (<a href=\"https:\/\/www.youtube.com\/watch?v=IfRVYGQ9TIE\">watch, runtime 8:37<\/a>). \u201cThe state is serious about solving the problems of investors, including the issue related to production inputs and their shortage in the markets during the past two or three months,\u201d he said, speaking during the inauguration of <a href=\"https:\/\/tinyurl.com\/2p8947ze\">several projects<\/a>. The president said that he\u2019d spoken to Central Bank of Egypt (CBE) Governor Hassan Abdalla about resolving the crisis. \u201cI imagine within a month or two, all the obstacles will be resolved.\u201d<\/p>\n<p><strong>Importers are having a rough time right now:<\/strong> Many businesses are unable to source the foreign exchange they need to import production inputs \u2014 let alone to bring in finished goods. This has caused shortages of industrial and consumer goods, forcing manufacturers and assemblers in some sectors to slow or even suspend production and some to lose <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/45ae6db2-da22-4fb6-9b28-1017310e9890\">\u201ctens of mns of USD\u201d a day<\/a>. The CBE last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2f88e93-0622-464e-ba6b-ea6289616074\">eased restrictions<\/a> to allow importers to use some of their FX balances to pay for imports, but they remain unable to use any FX that entered their accounts after 19 September. And the pace at which letters of credit are being issued? Still very slow.<\/p>\n<p><strong>The economic conference is coming next month:<\/strong> These issues will come up during the Madbouly government\u2019s economic conference, which will take place next month, El Sisi said. The conference will give the business community a chance to voice their concerns to the government on the problems and obstacles they face, he said. The final draft of the state ownership document, trade policy, and industrialization will also be on the agenda for the conference, which was originally expected to happen at the end of this month.<\/p>\n<p><strong>All of this is geared towards increasing exports:<\/strong> The government is looking to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\">increase exports to USD 100 bn a year<\/a> by 2025, partially through a new focus on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/09cecb3d-18ae-4a0b-9231-3de978ce8881\">localizing manufacturing<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c2e3b3e6-9b93-4ceb-bfa3-f0b0a130153f\">increasing revenues from gas exports<\/a>, which it hopes to double to USD 1 bn a month. Export revenues climbed 58% to USD 32.5 bn in 9M 2021-2022 from the same period the year prior.<\/p>\n<p><strong>On a related note: El Sisi wants private sector employers to set up more <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3078c7e6-eeae-48d6-acf3-163b6131cffa\">vocational schools<\/a><\/strong> to help train up the labor force, ensuring that employers have access to skilled laborers and that workers have the skills they need to land good jobs. The president also emphasized the important role of research and development facilities in identifying and developing solutions to pressing issues facing businessmen and industrials.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Sisi wants import woes fixed within two months: Import challenges facing manufacturers will be solved within two months, President Abdel Fattah El Sisi said yesterday (watch, runtime 8:37). \u201cThe state is serious about solving the problems of investors, including the issue related to production inputs and their shortage in the markets during the past [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":549732,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[96,104,72,1350],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-abdel-fattah-el-sisi","tag-economy","tag-enterpriseam","tag-madbouly-cabinet","wpautop","entry"],"acf":{"mongo_id":"17e5731c-72f6-4b07-a0f9-c85fe1927d44","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/403.jpg","photo_position":"above","related_issue":[549725],"teaser":"","voice_url":""},"yoast_head":"<!-- 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serious about solving the problems of investors, including the issue related to production inputs and their shortage in the markets during the past [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/28\/import-issues-could-be-resolved-within-two-months-el-sisi-signals\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-28T04:08:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/403.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" 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dominated the airwaves last night following the release of fresh inflation figures showing that prices accelerated in April at their fastest rate in almost three years.Keep calm and carry on was the message delivered by President Abdel Fattah El Sisi last night, who called in to\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603702,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/20\/talk-shows-cover-el-sisis-military-academy-speech-presidential-pardons\/","url_meta":{"origin":549731,"position":1},"title":"Talk shows cover El Sisi\u2019s military academy speech, presidential pardons","author":"enterpriseam admin","date":"20 August 2023","format":false,"excerpt":"El Sisi pardons 30 prisoners","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/893.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550238,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/19\/last-nights-talk-shows-el-sisis-sitdown-with-private-sector-players\/","url_meta":{"origin":549731,"position":2},"title":"Last Night\u2019s Talk Shows: El Sisi\u2019s sitdown with private sector players","author":"enterpriseam admin","date":"19 October 2022","format":false,"excerpt":"El Sisi\u2019s meeting with industry players dominated the airwaves last night. President Abdel Fattah El Sisi held a meeting with a delegation of Egyptian business leaders and investors a range of industries yesterday, Ittihadiya said in a statement. Government officials showcased potential projects and highlighted incentives to boost local and\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548938,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/28\/el-sisi-boris-johnson-talk-ties-cop27-alaa-abdel-fattah\/","url_meta":{"origin":549731,"position":3},"title":"El Sisi, Boris Johnson talk ties, COP27 + Alaa Abdel Fattah","author":"enterpriseam admin","date":"28 August 2022","format":false,"excerpt":"President Abdel Fattah El Sisi discussed the upcoming COP27 climate summit and bilateral relations in a phone call with British Prime Minister Boris Johnson, a statement by Ittihadiya read. A readout by the British PM\u2019s office said Johnson and El Sisi also discussed \u201cresolving the consular case of Alaa Abdel\u2026","rel":"","context":"In &quot;Diplomacy&quot;","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":635358,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/03\/el-sisi-orders-armed-forces-to-defeat-insurgency-in-north-sinai-in-three-months\/","url_meta":{"origin":549731,"position":4},"title":"El Sisi orders armed forces to defeat insurgency in North Sinai in three months","author":"enterpriseam admin","date":"3 December 2017","format":false,"excerpt":"El Sisi orders Armed Forces to defeat the insurgency in North Sinai in three months: President Abdel Fattah El Sisi said he ordered the Armed Forces to \u201crestore order and stability\u201d in Sinai in the next three months at a speech during the Prophet Mohamed\u2019s birthday celebrations held by the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592104,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/26\/egypts-el-sisi-revives-talks-about-listing-military-companies\/","url_meta":{"origin":549731,"position":5},"title":"Egypt\u2019s El Sisi revives talks about listing military companies","author":"enterpriseam admin","date":"26 December 2019","format":false,"excerpt":"El Sisi signals that military companies on the EGX more than just an idea: Military-owned companies and assets will be listed on the EGX, President Abdel Fattah El Sisi said yesterday, bringing up the idea for the second time in less than two months. Military-owned companies going public would ensure\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=549731"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549731\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549732"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549731"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549731"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}